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Innovation of Toyota in Hybrid

Toyota Innovation Lecturer: Dr. Barbara Igel Group members: Mr. Nguyen Hoang Hai Ms.

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Pham Thi Thu Hoai Ms. Kieu Phuong Ly 1 Toyota Introduction • • • • Established: 28 August 1937 Entrepreneur: Mr. Kiichiro Toyoda Total unit sold (up to July 2012): 200mil cars Company achievement: ?Product development motivation ?Extraordinary capability to manage large & global product development portfolio ?Launch more new vehicles than competitors ?Consistently deliver winners ?Continuous innovation and development 2 Prius XW10 the first Toyota’s hybrid was given to the market in December 1997 3 Prius XW10 he first Toyota’s hybrid was given to the market in December 1997 The car can run by both the gasoline and electricity 4 Differences Regular Car Hybrid Car Gasoline Gasoline & electricity CO2 emissions Less CO2 emissions Noise Silence powering High fuel consumption Low fuel consumption 5 Green Prius Make your gas last longer, Make your save last longer and Make your dream comes true 6 The first generation An Architecture Innovation Product Prius XW10 7 What kind of innovation in nth Generations of Toyota Prius? Prius V Prius C Prius Plug -in Incremental innovation products 8 Competitive Advantage

Product Development Strategy Process Goals 9 Product development strategy ? Conceiving & designing news cars ? Durability & Reliability ? Increase capital investment & shorter R&D cycles ? Reduce market risk 10 Product Development Process ? Fine balance between “shusa” program leader & “bucho” functional leader ? Parallel-path development, manage design and engineering trade-offs, and ensure flexibility (Apollo 11) ? Good relationship with suppliers 11 Product Development Process (…cont) ? Focus on collaboration and process ? Capturing and sharing the knowledge experience ? Monozukuri (“making products”) coming irectly from hitozukuri (“making people”) 12 Product Development Goals Focus on product value which perceived by customers Product Value GAP Product Cost 13 PRIUS – THE LEADER OF HYBRID CARS PRIUS Toyota Time of Sales Models Sold units (at the end of september 2012) INSIGHT Honda 1997 1999 5 (with three generation) 2 (with two generation) 2,804,900 1,000,000 14 Solution adopted by the company Source: (Dehoff K. & Loehr J. , 2007, Innovation Ability) 15 Innovation Framework (Igel B. , 2012, Innovation & Techno entrepreneurship course) 16 Source: (Dehoff K. & Loehr J. , 2007, Innovation Ability) 17

Reasons ? Thick history development culture ? Toyota Way: “people is the heart and soul” & “is the determinant of “ best practice” approach” 18 Reasons ? “Shusa” : program manager ? “bucho”: functional manger ? Balancing authority ? Culture: the program success goal sharing broadly through the company 19 Reasons ? Forward & back up solution are developed simultaneously ? Ensure timeline schedule ? Culture: better product by making innovation everyday 20 Reasons ? Investing the innovative capacities to longterm suppliers ? Culture: collectivism, long-term thinking, uncertain avoidance – HIGH 21 Reasons Capturing & sharing knowledge and experience, making it available ? Management by means not by results ? Culture: better product by making innovation everyday 22 Reasons ? “making product” emanate from “making people” ? Culture: People is the heart & soul of Toyota; the life of employees together with the life of the company. 23 Reasons ? Strong ? Core values: ? Personal accountability ? Continuous improvement ? Collaboration ? Elimination of waste 24 Source: (Dehoff K. & Loehr J. , 2007, Innovation Ability) 25 Apply in Vietnam? ?No 26 Source: (Dehoff K. & Loehr J. , 2007, Innovation Ability) 27 28